Numerai launches Erasure, a prediction market for capital market data

Numerai announced that they are launching¬†Erasure,a new decentralized data marketplace. It allows anybody to upload predictions, stake them with NMR( Numerai’s native token), build a track record that everyone can verify, and earn money.

  • Prediction feeds are stored on IPFS and their hash is submitted to the Ethereum blockchain for a “Proof of Existence”
  • Predictions follow a commit-reveal protocol that ensures two things
    • past predictions are visible, for the predictor to build credibility
    • latest predictions are hidden till someone pays to reveal them, earning the predictor some NMR
  • Erasure also has a “Griefing” mechanism where buyers of the prediction feed, can burn the seller’s stake in proportion to the amount they burn themselves. Acting as a extra incentive for valuable predictions.

Source Numerai’s blog